Haynes International, Inc. (HAYN) Rating Reiterated by KeyCorp

KeyCorp reaffirmed their hold rating on shares of Haynes International, Inc. (NASDAQ:HAYN) in a research report report published on Thursday.

Several other brokerages have also recently commented on HAYN. ValuEngine cut shares of Haynes International from a hold rating to a sell rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Haynes International from a strong sell rating to a hold rating in a research report on Monday, October 30th. Finally, J P Morgan Chase & Co reaffirmed a neutral rating and set a $26.00 price target (down from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $36.50.

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Haynes International (HAYN) opened at $32.37 on Thursday. Haynes International has a 1-year low of $28.97 and a 1-year high of $48.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.49 and a quick ratio of 2.02.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, November 16th. The basic materials company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). Haynes International had a negative return on equity of 3.05% and a negative net margin of 2.58%. The business had revenue of $100.80 million for the quarter, compared to analyst estimates of $100.19 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. equities analysts forecast that Haynes International will post 0.77 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, November 30th. Haynes International’s dividend payout ratio (DPR) is currently -106.02%.

A number of hedge funds and other institutional investors have recently bought and sold shares of HAYN. Wells Fargo & Company MN raised its position in Haynes International by 1,968.2% during the third quarter. Wells Fargo & Company MN now owns 191,428 shares of the basic materials company’s stock worth $6,875,000 after acquiring an additional 182,172 shares in the last quarter. Boston Partners raised its position in Haynes International by 141.8% during the third quarter. Boston Partners now owns 295,230 shares of the basic materials company’s stock worth $10,602,000 after acquiring an additional 173,120 shares in the last quarter. Third Avenue Management LLC bought a new stake in Haynes International during the second quarter worth $4,619,000. Russell Investments Group Ltd. raised its position in Haynes International by 181.6% during the third quarter. Russell Investments Group Ltd. now owns 139,777 shares of the basic materials company’s stock worth $5,019,000 after acquiring an additional 90,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Haynes International by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 949,737 shares of the basic materials company’s stock worth $34,485,000 after acquiring an additional 88,869 shares in the last quarter. 98.77% of the stock is currently owned by hedge funds and other institutional investors.

Haynes International Company Profile

Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.